Harel Insurance Investments & Financial Services Ltd. increases its holdings in Abbott Laboratories (NYSE:ABT)


Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT – Get Rating ) by 17.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,050 shares of the health products maker’s stock after acquiring an additional 155 shares during the period. The holdings of Harel Insurance Investments & Financial Services Ltd. in Abbott Laboratories were worth $124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Consolidated Planning Corp lifted its position in shares of Abbott Laboratories by 73.4% in the first quarter. Consolidated Planning Corp now owns 13,368 shares of the health products maker’s stock valued at $1,582,000 after acquiring an additional 5,659 shares in the last quarter. Advisory Alpha LLC raised its position in shares of Abbott Laboratories by 2.0% in the first quarter. Advisory Alpha LLC now owns 5,313 shares of the health products maker’s stock valued at $629,000 after acquiring an additional 106 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Abbott Laboratories by 17.2% in the first quarter. Verdence Capital Advisors LLC now owns 21,338 shares of the health products maker’s stock valued at $2,526,000 after acquiring an additional 3,128 shares during the last quarter. Private Wealth Partners LLC lifted its position in shares of Abbott Laboratories by 16.7% during the first quarter. Private Wealth Partners LLC now owns 13,463 shares of the health products maker’s stock valued at $1,593,000 after acquiring an additional 1,930 shares during the last quarter. Finally, SPC Financial Inc. raised its position in shares of Abbott Laboratories by 11.0% in the first quarter. SPC Financial Inc. now owns 20,594 shares of the health products maker’s stock valued at $2,438,000 after acquiring an additional 2,036 shares during the last quarter. 73.46% of the shares are currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Presentation

Shares of ABT stock opened at $109.20 on Monday. The firm has a market cap of $191.20 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 4.04 and a beta of 0.75. The company has a debt-to-equity ratio of 0.48, a quick earnings ratio of 1.40 and a current ratio of 1.85. Abbott Laboratories has a one year low of $101.24 and a one year high of $142.60. The stock’s fifty day moving average is $110.20 and the 200 day moving average is $117.09.

Abbott Laboratories (NYSE:ABT – Get Rating ) last announced its earnings results on Wednesday, July 20th. The health care products maker reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a return on equity of 29.64% and a net margin of 18.78%. The business had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 10.1% year over year. equities analysts anticipate that Abbott Laboratories will post 5 EPS for the current year.

Abbott Laboratories announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.88 annual dividend and a yield of 1.72%. Abbott Laboratories’ dividend payout ratio is currently 39.25%.

Internal Affairs at Abbott Laboratories

In related news, SVP Randell William Woodgrift sold 24,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $113.00, for a total transaction of $2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares of the company’s stock, valued at $5,407,502. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. In related news, SVP Randell William Woodgrift sold 24,000 shares of the stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.00 for a total value of $2,712,000.00. Following the completion of the transaction, the senior vice president now owns 47,854 shares in the company, valued at approximately $5,407,502. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, Director Daniel J. Starks sold 50,000 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $113.22, for a total value of $5,661,000.00. Following the completion of the transaction, the director now owns 6,973,500 shares of the company’s stock, valued at approximately $789,539,670. Disclosure of this sale can be found here. Company insiders own 0.52% of the company’s shares.

Changes in analyst ratings

Several research firms recently issued reports on ABT. Stifel Nicolaus cut their target price on Abbott Laboratories from $136.00 to $126.00 in a research report on Monday, July 18th. BTIG Research reduced their target price on Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Cowen reduced their target price on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Royal Bank of Canada cut their target price on Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday. Finally, Wells Fargo & Company reduced their target price on Abbott Laboratories from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $133.33.

Abbott Laboratories Profile

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Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures and markets healthcare products worldwide. It operates in four segments: established pharmaceuticals, diagnostic products, nutritional products and medical devices. The Established Pharmaceuticals segment provides generic pharmaceutical products for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorders, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Meniere’s disease and vestibular vertigo, pain, fever, inflammation and migraine, as well as provides anti-infective clarithromycin, influenza vaccine and products to regulate the physiological rhythm of the colon.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)



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